Bangladesh to ink Qatar LNG deal soon

Bangladesh is reportedly expected to sign a 15-year deal this month with Qatar’s RasGas to import liquefied natural gas (LNG) starting in 2018.

The deal will be signed on September 25 in Qatar, Reuters reported on Wednesday citing Mohammad Quamruzzaman, managing director of the Rupantarita Prakritik Gas Co, a unit of state-owned oil firm Petrobangla, as saying.

Under the deal, RasGas will supply 1.8 million tonnes a year of LNG for the first five years and 2.5 million tonnes a year for the next 10 after that, the report said.

The deal is Bangladesh’s first LNG import agreement and will help to cover the country’s domestic natural gas shortfall.

Bangladesh’s two terminals, one being developed by Excelerate Energy and the other by Summit LNG to be located at Moheshkhali Island in the Bay of Bengal are set to be commissioned by April 2018 and the Summit terminal by October 2018, respectively.